Acima Financing: What It Is and Why Consumers Complain
Acima (formerly Acima Credit, now operating under Upbound Group) is a lease-to-own financing company headquartered in Draper, Utah. It partners with retailers — furniture stores, electronics shops, appliance dealers — to offer point-of-sale lease agreements to shoppers who may not qualify for traditional credit.
The pitch sounds simple: take your item home today, make payments over time. But a growing number of consumers have filed complaints about Acima financing practices, and in 2024 both the Consumer Financial Protection Bureau (CFPB) and the New York Attorney General took legal action against the company.
If you are dealing with Acima — whether you signed a lease, you are receiving calls, or you are facing threats — here is what you should understand.
How Acima Financing Actually Works
Acima does not loan you money. Instead, it purchases the item from the retailer and then leases it to you. At the end of your lease term, you have the option to purchase the item at a predetermined price. The practical effect: consumers often end up paying significantly more than the retail price of the item — sometimes nearly double.
Key features of Acima financing agreements include:
- Lease terms of 12, 18, or 24 months
- Payment schedules that can be weekly, biweekly, or monthly
- A "90-day early purchase option" that is widely misunderstood
- Approval based on income and checking account history rather than a traditional credit score
Common Acima Financing Complaints
Consumer review platforms and regulatory agencies have documented a consistent pattern of Acima complaints. The most frequently reported issues include:
Misleading cost disclosures
Many consumers say they were not clearly told how much the total lease would cost. The "90-day interest-free" framing that appears in Acima marketing has generated significant confusion — rental fees still accrue during that period, meaning early payoff actually costs more than many consumers expected.
Unauthorized withdrawals
Consumers have reported charges to their bank accounts that they did not authorize, or amounts that did not match their agreement. Some reported overdraft fees as a result.
Difficulty making early payoff
Multiple complaints cite obstacles when trying to pay off the lease early, including difficulty reaching customer service, unclear payoff amounts, and disputes over what was owed.
Credit reporting errors
The CFPB's 2024 lawsuit against Acima alleged widespread failures in credit reporting — including providing incorrect consumer information to credit bureaus and failing to properly notify consumers of negative reporting.
Identity theft and unauthorized accounts
Some consumers have reported finding Acima accounts opened in their name without their authorization.
The New York Attorney General Lawsuit
In 2024, New York Attorney General Letitia James filed a lawsuit against Acima, describing the company as a predatory lender that "cheated thousands of New Yorkers." The AG's complaint alleged that Acima:
- Made false threats to sue consumers and repossess merchandise
- Misrepresented the true cost of its agreements
- Engaged in deceptive practices targeting consumers who had limited access to traditional credit
This action underscores that Acima's conduct is not just a matter of consumer frustration — it has drawn the attention of state law enforcement.
The CFPB Action Against Acima
In July 2024, the CFPB filed a lawsuit against Acima Holdings, LLC, Acima Digital, LLC, and founder Aaron Allred. The CFPB alleged violations of:
- The Consumer Financial Protection Act
- The Fair Credit Reporting Act (FCRA)
- The Truth in Lending Act (TILA)
- The Electronic Fund Transfer Act (EFTA)
The CFPB voluntarily dismissed the lawsuit in March 2025 following a change in agency priorities. However, the underlying consumer complaints that led to the lawsuit remain valid concerns, and state-level actions — including the New York AG case — continue independently.
What to Do If You Have an Acima Dispute
If you have a complaint or dispute with Acima, here are practical steps to take:
- 1. Document everything. Keep records of your lease agreement, payment history, all correspondence, and notes from any phone calls (date, time, what was said, who you spoke with).
- 2. Request a written payoff statement. If you are trying to settle or pay off your account, get the exact amount in writing before sending any payment.
- 3. File a complaint with the CFPB. Even with the federal lawsuit dismissed, the CFPB still accepts and tracks consumer complaints against Acima at consumerfinance.gov/complaint.
- 4. Contact your state attorney general. If you are in New York, the AG has an active case. In other states, the AG's consumer protection division may be able to help.
- 5. Review your credit report. If Acima is reporting inaccurate information, you have the right to dispute it directly with the credit bureaus under the Fair Credit Reporting Act.
- 6. Speak with a licensed consumer protection attorney. Particularly if Acima has made threats, contacted third parties about your account, or engaged in behavior you believe was illegal, an attorney can evaluate your situation.
Acima Contact Information
If you need to reach Acima directly:
- Phone: (801) 297-1982 (Monday–Friday, 6 AM–7 PM MST; Saturday, 7 AM–4 PM MST)
- Alternate toll-free: (800) 742-1789
- Email: customers@acimacredit.com